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Property profile & analytics
OFF-MARKET
Estimated value
$2,110,000
Outlet malls
3515 5th St Hwy Reading, PA 19605-1703
Entity Owned
24-yr Hold
Free & Clear
Property ID
US73-2719505
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1960
Total area
17,000 SF
Lot
2.26 ac (98,446 SF)
APN
5308-08-79-7368
UPID
US73-2719505
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Lomax Carpet & Tile Mart Carpet & Flooring Store Hardware & Home Improvement
-
Lomax Carpet Mart Carpet & Flooring Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.65M
Comparable Approach
Comparable
$1.62M
Blend (final)
Blend
$2.11M
Owner & transaction history
R & B Realty Co · 24 yrs held
R & B Realty Co
since 2002
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.8M
+182.0%
Warehouse, storage
$2.7M
+166.0%
Restaurant
$2.3M
+126.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Reading submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reading submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,875,000
6.5%
$2,650,000
7%
$2,460,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,815,000
Change: +182% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,655,000
Change: +166% · Conversion: Difficult
RESTAURANT
$2,265,000
Change: +127% · Conversion: Easy
OFFICE BUILDING
$1,710,000
Change: +71% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,600,000
Change: +60% · Conversion: Difficult
Blend value · Realmo final
$2.11M
Range $1.90M – $2.32M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$124 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$18,048
Tax year 2024
Assessed value
$1,285,000
Assessed 2024
Previous assessed
$1,285,000
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$564,500
Assessed improvement
$720,500
Land market value
$564,500
Improvement market value
$720,500
Total market value
$1,285,000
Applied tax rate
66.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1960
Heating
NONE
Buildings
2
Stories
1
Total area
17,000 SF
Lot
2.26 ac (98,446 SF)
APN
5308-08-79-7368
UPID
US73-2719505
Jurisdiction
BERKS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$2.8M
WAREHOUSE, STORAGE
Est. value
$2.7M
RESTAURANT
Est. value
$2.3M
OFFICE BUILDING
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.6M
MEDICAL BUILDING
WAREHOUSE, STORAGE
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1960
Heating
NONE
Stories
1
Buildings
2
Lot
2.26 ac
Current owner
From public records · entity-resolved
R & B Realty Co
Entity
Free & Clear · 24 yrs held
Mailing address
230 N DUPONT HWY, NEW CASTLE, DE 19720-3222
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2002
—
R & B Realty Co
Riverside Associates
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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